| SERVICE | ACS OPERATOR | CUSTODIAN | DEPOSITORY | ADMINISTRATOR/PERFORMANCE MEASUREMENT | TRANSFER AGENT | AUDITOR | Authorised Corporate Director | INVESTMENT MANAGERS | LEGAL | |---------|--------------|-----------|------------|--------------------------------------|----------------|---------|-------------------------------|-------------------|-------| | INVESTMENT MANAGEMENT | | | | | | | | | | | Investment Strategy and Risk Parameters review or for new funds | | | | | | | | | X | | Appointment of an asset manager for the fund | | | | | | | | | X | | Review of Reports flowing from operational teams | | | | | | | | | X | | Day to day decisions about composition of funds | | | | | | | | | X | | Entering contracts with brokers and other market participants | | | | | | | | | X | | Trade processing i.e. trade matching/confirmation with broker, provision of trade instruction to custodian | | | | | | | | | X | | Portfolio accounting i.e. maintenance of investment books and records | | | | | | | | | X | | Pricing and valuation (for internal monitoring /management purposes) | | | | | | | | | X | | Corporate actions and proxy voting | | | | | | | | | X | | Derivatives servicing and collateral management to the extend relevant | | | | | | | | | X | | Data management e.g. setting up static data such as approved brokers, client date e.g. base currency, details of relevant custodian and restrictions on client account | | | | | | | | | X | | Client reporting e.g. performance measurement, risk analytics, investment reporting | | | | | | | | | X | | Settlement management | | | | | | | | | X | | Income and tax reclaim collection | | | | | | | | | X | | SERVICE | ACS OPERATOR | CUSTODIAN | DEPOSITORY | ADMINISTRATOR/PERFORMANCE MEASUREMENT | TRANSFER AGENT | AUDITOR | Authorised Corporate Director | INVESTMENT MANAGERS | LEGAL | |---------|--------------|-----------|------------|--------------------------------------|----------------|---------|-------------------------------|-------------------|-------| | GENERAL ADMINISTRATION | | | | | | | | | | | Obtaining and maintaining FCA authorisation for new sub fund launches, prospectus updates | | | | | | | | | X | | Monitoring investor cashflows throughout the fund structure | | | | | | | | | X | | The execution of relevant documents or contracts on behalf of the ACS | | | | | | | | | X | | Dealing services, i.e. dealing with orders for subscriptions and redemption of units in the ACS by investors, settling deals, dispatching trade confirmations, receiving and making payments, conducting switches and conversions | | | | | | | | | | | Box management and fulfilment | | | | | | | | | ? | | Fund accounting services, including valuations, pricing, and tax returns | | | | | | | | | X | | Registrar services e.g. maintaining the register of unit holders and servicing unit holders (e.g. dispatch of reports and accounts, notice of meetings, holding unit holder meetings etc.) | | | | | | | | | X | | Paying out fund distributions to investors | | | | | | | | | X | | Record keeping (including holding any personal date of investors as relevant) | | | | | | | | | X | | Call centre function, and dealing with investor queries and complaints | | | | | | | | | X | | Regulatory compliance monitoring | | | | | | | | | X | | Conduct of in specie transfers | | | | | | | | | X | | Appointment and oversight of auditors for the ACS | | | | | | | | | X | | MARKETING | | | | | | | | | | | Maintaining of the overall marketing and distribution strategy for the ACS and carrying out marketing plans | | | | | | | | | X | | Obtaining and maintaining relationships with key investors and distributors | | | | | | | | | X | | Entering into relevant contracts, where relevant | | | | | | | | | X | | Maintaining general marketing materials, investor updates etc. | | | | | | | | | X | | Maintaining any relevant websites | | | | | | | | | X | | DISCLOSURE | | | | | | | | | | | SERVICE | ACS OPERATOR | CUSTODIAN | DEPOSITORY | ADMINISTRATOR/ PERFORMANCE MEASUREMENT | TRANSFER AGENT | AUDITOR | Authorised Corporate Director | INVESTMENT MANAGERS | LEGAL | |---------|--------------|-----------|------------|----------------------------------------|----------------|---------|-------------------------------|-------------------|-------| | Disclosure Notifications to investors, Fundamental, significant, etc. | X | | | | | | | | | | Other regulatory disclosures e.g. TCF, pricing, product governance etc. | X | | | | | | | | | | DEALING | | | | | | | | | | | Dealing window issues and monitoring | X | | | | | | | | | | LIQUIDITY | | | | | | | | | | | Managing the funds Liquidity | X | | | | | | | | | | INVESTMENT RESTRICTIONS | | | | | | | | | | | Compliance monitoring on investment restrictions e.g. derivatives risk monitoring | X | | | | | | | | X | | OUTSOURCE PROVIDER MONITORING | | | | | | | | | | | Management of outsource providers and liability for their acts or omissions | X | | | | | | | | | | BOARD/ COMMITTEE FACILITATION | | | | | | | | | | | Investment Committee | X | | | | | | | | | | Risk Committee | X | | | | | | | | | | Board of Directors | X | | | | | | | | | | Managing Director | X | | | | | | | | |